Published on 12/11/2023 in the Prospect News Structured Products Daily.
New Issue: UBS prices $718,000 trigger autocallables linked to Russell, S&P
By Angela McDaniels
Tacoma, Wash., Dec. 11 – UBS AG, London Branch priced $718,000 of 0% trigger autocallable notes due April 5, 2027 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 12% per year if each index closes at or above its initial level on any annual call observation date.
If the notes are not called, the payout at maturity will be par unless the final level of either index is less than its downside threshold, 70% of its initial level, in which case investors will be exposed to the decline of the lesser performing index.
UBS Securities LLC and UBS Investment Bank are the agents.
Issuer: | UBS AG, London Branch
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Issue: | Trigger autocallable notes
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Underlying indexes: | Russell 2000 index and S&P 500 index
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Amount: | $718,000
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Maturity: | April 5, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par unless final level of either index is less than downside threshold, in which case exposure to decline of lesser performing index
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Call: | Automatically at par plus 12% per year if each index closes at or above initial level on any annual call observation date
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Initial levels: | 1,802.484 for Russell and 4,109.31 for S&P
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Downside thresholds: | 1,261.739 for Russell and 2,876.52 for S&P, or 70% of initial levels
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Pricing date: | March 31
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Settlement date: | April 5
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Agents: | UBS Securities LLC and UBS Investment Bank
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Fees: | 2%
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Cusip: | 90279GAY5
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